Venizelos: "If Europe Can not Save Greece, it Can not Save Itself"

Finance Minister announced new measures to ensure the country would receive the sixth aid instalment, including reduction of tax-free threshold for people under 30 and over 65 years old, implementation of uniform payroll in November and a plan to prepare the increase of heating oil tax next year.
“Greece cannot have a tax-free threshold above the European average”, Evangelos Venizelos said in a press conference.
Asked about the cuts in wages, he said that weighted average would be reduced by around 20%, but said that the 80% of employees will not be affected. Instead, 10% of employees will benefit with an increase of 7%.
Regarding the reduction in pensions by 4%, he clarified that it arises from pensions that exceed €1,200.
On the issue of labour reserve, Venizelos stated that the 3% of public sector employees are redundant, while he reiterated that the target of privatizations has been revised to €4 billion by the end of the year.
Venizelos, also Deputy PM confirmed that international inspectors would arrive in Athens this week to assess the country΄s progress and approve (or not) the disbursement of the sixth aid tranche.
“The agreement with the troika has largely been reached relating to how we will reach our fiscal goals for 2011 and 2012,” Venizelos said. “There remain some issues that are of a supplemental nature regarding the budget for 2013 and 2014.”
“I am very optimistic about…disbursement of the sixth tranche, as long as we do what is necessary,” Venizelos said at a news conference. “The disbursement will be decided in time and in relation to our cash needs…the disbursement will happen and it will happen in time.”
He also warned of disastrous consequences from the delay of the European politicians. “If Europe can not save Greece, it can not save itself,” he said.
It should be noted that the press conference delayed because of a protest inside and outside the ministry building.
(source: capital)